UPDATE: Bank of America Reiterates Buy Rating, Raises PT on PPG Industries on Solid 2Q Results

In a report published Friday, Bank of America analyst Kevin W. McCarthy reiterated a Buy rating on

, and raised the price target from $218.00 to $223.00. In the report, Bank of America noted, “We continue to view PPG as an attractive core holding in the chemicals sector and expect shares to continue to grind higher as earnings grow. End-use markets still reflect demand strength in auto, aerospace, industrial and architectural coatings, partially offset by weakness in marine and packaging coatings. M&A should remain active, while share repurchases accelerate in 3Q after a Comex deal-related hiatus.” PPG Industries closed on Thursday at $207.70.